Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 28.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,164 shares of the industrial products company's stock after selling 8,704 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Illinois Tool Works were worth $5,809,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ITW. Captrust Financial Advisors grew its holdings in Illinois Tool Works by 9.9% in the third quarter. Captrust Financial Advisors now owns 39,704 shares of the industrial products company's stock valued at $10,405,000 after purchasing an additional 3,581 shares during the last quarter. CWS Financial Advisors LLC grew its stake in Illinois Tool Works by 12.5% in the 3rd quarter. CWS Financial Advisors LLC now owns 1,633 shares of the industrial products company's stock valued at $428,000 after acquiring an additional 181 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Illinois Tool Works by 17.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 8,043 shares of the industrial products company's stock valued at $2,108,000 after acquiring an additional 1,200 shares in the last quarter. Financial Counselors Inc. raised its position in Illinois Tool Works by 3.7% during the third quarter. Financial Counselors Inc. now owns 13,631 shares of the industrial products company's stock worth $3,572,000 after acquiring an additional 487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company's stock valued at $484,685,000 after purchasing an additional 32,656 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ITW shares. Barclays lifted their price objective on Illinois Tool Works from $215.00 to $230.00 and gave the stock an "underweight" rating in a research report on Friday, November 1st. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Truist Financial increased their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of "Hold" and a consensus price target of $257.30.

Illinois Tool Works Trading Down 0.9 %

NYSE:ITW traded down $2.42 during trading hours on Tuesday, reaching $276.08. 723,553 shares of the company were exchanged, compared to its average volume of 1,046,486. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The stock has a 50 day simple moving average of $265.14 and a 200 day simple moving average of $251.16. The firm has a market cap of $81.53 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 4.32 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.55 earnings per share. As a group, analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.17%. Illinois Tool Works's dividend payout ratio (DPR) is 51.90%.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.